Tax Depreciation Schedule – Brisbane and Sunshine Coast

What is a tax depreciation schedule?

A tax depreciation report which schedules out the value of all the depreciable items within & around your investment property. Including Common items if in a complex.

The ATO allows investment property owners to claim for the wear and tear on these items each financial year.This can create significant reductions to your income tax payable and create a handy cash flow for you.

There have been recent changes to what can & can’t be claimed so be sure to speak with us to find out how YOU are effected.

Do you need a tax depreciation report?

Why do I need a Quantity Surveyor?

The ATO has assigned each and every depreciable item in your investment property a life. For example, an oven has a life of 12 years. So a brand new oven can be depreciated every year for 12 years. What the ATO can’t say is what the item is worth – this is where we come in.

Under TR97/25 the ATO has authorised quantity surveyors to inspect & assess each item and to give them a value. As there is possibility of over-valuing items, the ATO decided QS’s had to be registered tax agents with the Tax Practitioners Board (TPB). In doing so, all TPB-registered QS’s are bound by TPB and ATO legislation, and must not provide false or misleading information on the depreciation schedule.

We are legally responsible for the information provided and therefore are diligent in providing accurate information.

How does Tax Depreciation work?

Depreciable items are broken into two categories; Capital Items, and Plant and Equipment.

Capital Items are ‘fixed’ items which include:

  • The building and other structures on the lot
  • Fencing
  • Paving, and much more

These items are generally depreciable at 2.5% p.a. for the life of the item (40 years).

Plant and equipment are ‘loose’ items, including:

  • Kitchen appliances
  • Floor coverings
  • Window dressing, etc.

Each item has a life as set out by the ATO and fall into one of three categories:

  1. Items less than $300 in value and claimable at 100%
  2. Items $301-$1,000 and claimable at 37.5%
  3. Items greater than $1,000 and claimable at a specific percentage each year.


 Why choose WRC QS?

WRC QS is an Australian-owned & operated family business. We do not come under the umbrella of a larger multinational company.

A focus on client satisfaction is key to having such a great reputation in the industry.

Our Report Quality – Accuracy – Value for Money – Ease of use – has made us the Preferred Tax Depreciation Company of MANY Accountants.  

We guarantee a Quantity Surveyor will handle your property from start to finish. This allows us to provide the most accurate and complete report and to ensure client satisfaction.

The experience we have with tax depreciation schedules in Brisbane, the Sunshine Coast, Cairns, and all down the east coast of Australia from Tweed Heads to Sydney gives us the in-depth knowledge to minimise your investment property tax.

Please feel free to read some of our testimonials by our satisfied clients.

Contact us today

To speak to one of our highly qualified representatives, call us on 0422 401 509, complete our online form, or send us an email. Whether you’re in Brisbane, Sunshine Coast, Cairns or anywhere Between Tweed Heads and Sydney, we can help.